November 2025
18Nov

UK Pensions briefing | Government gives the green light to major collective DC expansion

The Government has published a response to its October 2024 consultation on the extension of the collective defined contribution (CDC) scheme regime to unconnected employers. It has also published and laid before Parliament final draft regulations which are due to come into force on July 31, 2026. In addition, it has published a consultation paper on “Retirement CDC” schemes offering a default income solution for members at retirement. The consultation closes on December 4, 2025. What are CDC schemes? In a CDC scheme, employers’ and members’...

November 18, 2025
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14Nov

The Nucleus UK Retirement Confidence Index 2025

By Nucleus Retirement is one of the most significant milestones in life, yet for many people across the UK it carries as much uncertainty as it does anticipation. Our Retirement Confidence Index offers a unique, in-depth look at attitudes, expectations, and concerns surrounding retirement across the UK at different life stages. Whether you're refining your client communications or shaping your advice proposition, these insights can help you stay ahead of your clients' expectations and build deeper trust. Surveying over 4,300 UK adults,...

November 14, 2025
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14Nov

UK. Most over-50s factoring risk into pension decisions

Research findings around pensions often emphasise the need for people to save and engage more with their pots and retirement planning. Savers not setting aside enough or having little knowledge of pensions are some of the conclusions that such surveys and analyses often draw attention to. Research from Aviva this year, for example, found a notable gap between levels of perceived and actual knowledge around pensions. While more than half of people (53 per cent) described themselves as knowledgeable about pensions, only a third...

November 14, 2025
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13Nov

U.K. to keep voluntary pensions system

Employers in the United Kingdom could be forced to make mandatory contributions to occupational pension plans unless they do more to encourage employees to contribute to the current voluntary system, a government appointed task force says. The Employer Task Force on Pensions, which was established in 2003 to advise the secretary of state for Work and Pensions, last week published a report recommending that the current system of voluntary contributions to occupational pension plans be maintained. But Sir Peter Davis, chairman...

November 13, 2025
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13Nov

UK retirement confidence falls to lowest level yet

Retirement confidence in the UK has dropped to its lowest level since tracking began, according to new research from Nucleus. The third annual Nucleus UK Retirement Confidence Index finds that only one in four adults (26%) are confident they will have enough money to live comfortably for the rest of their lives, down from 34% last year. The overall confidence score has fallen to 4.2 out of 10, compared with 4.6 in 2024 and 6.9 in 2023. The report, based on YouGov...

November 13, 2025
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12Nov

UK. Government to rethink rejection of Waspi compensation

A decision to reject compensation for women hit by changes to the state pension age will be reconsidered by the government. Campaigners say 3.6 million women born in the 1950s were not properly informed of the rise in state pension age to bring them into line with men. Last year, the government apologised for a 28-month delay in sending letters, but rejected any kind of financial payouts. A document was not shown to Liz Kendall, who was Work and Pensions Secretary...

November 12, 2025
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11Nov

UK. Chancellor looking to cap salary sacrifice contributions to £2,000 in Autumn budget

The chancellor is planning to use the budget to limit the amount of someone’s salary that can be sacrificed through pension contributions without incurring national insurance (NI) payments to £2,000 a year. Reports in The Times and Financial Times this weekend said the chancellor would target pension salary sacrifice arrangements to raise up to £2bn a year and help fill a £30bn gap in public finances. At present there is no limit on the amount that an employee can put into their pension under salary...

November 11, 2025
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07Nov

Retirement reality: Managing money in mid-retirement

By Aviva People in their mid-70s overwhelmingly report that they want the security of an income for life, yet very few are confident that their savings will last. Many underestimate how long they need to budget for and tend not to engage with ongoing planning as they age. Modelling shows the risks of remaining in drawdown and the benefits of Flex First, Fix Later solutions that include later-life annuitisation as a way of addressing these challenges. Such an approach would...

November 7, 2025
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07Nov

UK. DB Funding Code offers trustees ‘opportunity to rethink investment governance’

The updated Defined Benefit (DB) Funding Code gives trustees a valuable opportunity to rethink their investment governance and focus more strategically on their scheme’s long-term objectives, Russell Investments fiduciary manager and client CIO, Aqib Merchant, has said. Speaking at the Association of Member Nominated Trustees (AMNT) Annual Conference, Merchant said the new regime should prompt trustee boards to reassess how their time and resources are allocated as they move towards endgame. “Endgame objectives and the DB Funding Code go hand in...

November 7, 2025
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06Nov

UK savers pulling cash from pensions ahead of budget, money managers say

 British money managers are reporting a jump in people withdrawing cash from their pensions before this month's budget, amid fears for their tax advantages as the government warns it needs to make "hard choices" to prop up public finances. Most British savers can receive up to 25% of their pension as a tax-free lump sum. Some experts on fiscal policy have speculated that Rachel Reeves, the finance minister, might reduce the amount that can be withdrawn tax-free, a potential motive for savers to withdraw...

November 6, 2025
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